JBR Co Financial Management Inc Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

JBR Co Financial Management Inc grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 113.1% during the 1st quarter, Holdings Channel reports. The fund owned 4,312 shares of the oil and natural gas company’s stock after acquiring an additional 2,289 shares during the period. JBR Co Financial Management Inc’s holdings in Diamondback Energy were worth $689,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in Diamondback Energy during the fourth quarter worth about $33,000. Grove Bank & Trust boosted its stake in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 80 shares during the last quarter. Key Financial Inc grew its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Ancora Advisors LLC increased its stake in shares of Diamondback Energy by 182.9% during the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the topic of several research analyst reports. Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Truist Financial lifted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Mizuho dropped their price objective on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Williams Trading set a $190.00 target price on Diamondback Energy in a report on Wednesday, March 5th. Finally, Scotiabank dropped their price target on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $193.13.

Diamondback Energy Price Performance

FANG opened at $152.93 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $137.99 and a 200 day simple moving average of $152.15. The firm has a market cap of $44.68 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 1.37 and a beta of 1.06. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.50 earnings per share. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy’s payout ratio is 24.46%.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.